Blue Trust Inc. Has $29,000 Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

Blue Trust Inc. lifted its stake in Daqo New Energy Corp. (NYSE:DQ) by 12,187.5% in the second quarter, HoldingsChannel reports. The firm owned 1,966 shares of the semiconductor company’s stock after purchasing an additional 1,950 shares during the period. Blue Trust Inc.’s holdings in Daqo New Energy were worth $29,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DQ. SG Americas Securities LLC lifted its stake in Daqo New Energy by 327.1% during the second quarter. SG Americas Securities LLC now owns 20,561 shares of the semiconductor company’s stock valued at $300,000 after buying an additional 15,747 shares in the last quarter. Boston Partners raised its holdings in shares of Daqo New Energy by 3.3% during the first quarter. Boston Partners now owns 78,340 shares of the semiconductor company’s stock valued at $2,205,000 after acquiring an additional 2,538 shares during the period. National Wealth Management Group LLC purchased a new stake in shares of Daqo New Energy in the 1st quarter valued at approximately $403,000. Sylebra Capital LLC acquired a new position in Daqo New Energy in the 1st quarter worth approximately $13,025,000. Finally, Caxton Associates LP grew its position in Daqo New Energy by 250.3% during the 1st quarter. Caxton Associates LP now owns 140,787 shares of the semiconductor company’s stock worth $3,963,000 after purchasing an additional 100,594 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Analysts Set New Price Targets

DQ has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Daqo New Energy in a report on Thursday, July 11th. They issued a “buy” rating for the company. Roth Mkm reissued a “neutral” rating and issued a $23.00 price objective on shares of Daqo New Energy in a research note on Tuesday, April 30th. HSBC reaffirmed a “reduce” rating and set a $17.50 target price (down previously from $23.50) on shares of Daqo New Energy in a research note on Monday, May 6th. Finally, StockNews.com lowered shares of Daqo New Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to MarketBeat, Daqo New Energy presently has a consensus rating of “Hold” and an average target price of $21.83.

Daqo New Energy Trading Up 0.9 %

NYSE DQ opened at $15.20 on Friday. The company has a market capitalization of $1.00 billion, a PE ratio of 7.14 and a beta of 0.28. Daqo New Energy Corp. has a 1-year low of $14.21 and a 1-year high of $37.92. The firm’s fifty day simple moving average is $16.35 and its 200-day simple moving average is $20.27.

Daqo New Energy announced that its Board of Directors has approved a stock buyback plan on Monday, July 22nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Daqo New Energy Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.